Released on February 28, 2018
The ministers responsible for capital markets regulation in British Columbia, Ontario, Saskatchewan, New Brunswick, Prince Edward Island and Yukon, and the Minister of Finance of Canada, are pleased to announce the selection of Mary Condon as an initial director of the proposed Capital Markets Regulatory Authority (Authority).
Pending its establishment, Condon has been appointed to the Board of Directors of the Capital Markets Authority Implementation Organization (CMAIO).
Condon is a distinguished academic and regulator with more than 25 years of experience in securities law. She will provide a valuable perspective on investor protection and enforcement issues, and further strengthen the diversity of the Board of Directors.
Condon replaces Howard Wetston, who resigned from the CMAIO Board in fall 2016 when he was appointed to the Senate of Canada.
“We are excited to welcome Mary Condon to CMAIO’s Board,” CMAIO Board of Directors Chair William A. Black said. “She has an outstanding reputation as a scholar in the field of securities law with significant regulatory experience.”
“I am pleased to participate in the development of the new co-operative securities regulator, which will bring new tools and legislation to bear in delivering on its mandate of protecting investors, fostering fair, efficient and competitive capital markets, and contributing to the stability and integrity of the Canadian financial system,” Condon said.
CMAIO was established as an interim entity to assist in the transition to and implementation of the Authority as part of the new Co-operative Capital Markets Regulatory System.
Subject to legislative approval and enactment, the Authority would be the single securities regulator for participating jurisdictions. When passed, the proposed uniform provincial-territorial Capital Markets Acts and the complementary proposed federal Capital Markets Stability Act would form the cornerstone legislation of the new Co-operative Capital Markets Regulatory System.
For more information, please visit www.cmaio.ca and www.ccmr-ocrmc.ca.
For more information, contact:
Financial and Consumer Affairs Authority